Everybody has that vision of where they would love to live for the rest of their lives. For some it’s a condo, while for others it’s a mansion.
The point is, to get our dream houses, we all have different targets we need to meet. Most times, they seem unrealistic, but with the right attitude and technique, anything is possible.
At least, that’s what Jacques Poujade, mortgage expert and managing partner at LendPlus told us during our interview with him. The interview went this way;
What do you think is a dream house?
A dream house is a house that you have worked for, and saved up for, to get yourself. It is your house, your home.
This applies no matter what the exterior or interior looks like. The main idea is that you have earned it by saving or working hard enough to get it.
How much would people need to save up for their dream home?
Well, these days, the cost of living has increased tremendously. Hence, you can only expect the cost of your dream home to be at least as much.
To get the average dream home, I’d say about $200,000.00 is needed. Now, that amount is just a rough guess. It is likely to change based on the location you want your dream is to be in or what you want from it.
What are the best ways to save money for a dream house?
I would say that the easiest way to save money for a dream house would be to start saving as soon as you can. The sooner you start saving, the better.
You can also decide to save for anything. Even if it doesn’t look like a mansion, you will still find a way to save money for your dream home. Before you know it, there’ll be enough money for you to buy your dream house.
What are the biggest mistakes people make when they are saving up for their dream house?
There are a lot of mistakes you can make when you’re trying to save towards your dream house. One of them is not setting a goal or target for themselves.
When you want to get something, whether it is a new car, or your dream house, you need to set some sort of target for yourself. Without a target, you can never achieve your goals. People also fail to save for their dreams when they are lazy about it.
What do you have to say to people who are already saving for their dream house?
I want to encourage them by saying that they will make it one day. I know how it feels because I’ve been in that same situation before.
The only difference now is that I’m not just saving for myself, now I have all other goals. No matter how long it takes, saving up for anything is always worth the wait. The feeling of actually owning your home and being able to say “This is my home” can’t be put into words.
So, hang in there and know that you can do it. There’s no special gimmick to it. The real estate market has proven to be strong despite the pandemic and there is no better time to buy your forever home than now.
